Insurtech company Ripe finalises GJW Direct purchase from Munich Re

GlobalData

Tue, Apr 15, 2025, 2:48 AM 2 min read

UK-based insurtech institution Ripe has completed its acquisition of vessel security specializer GJW Direct from Munich Re Specialty.

Financial details of the deal, initially announced successful October 2024, stay undisclosed.

Set up successful 1826, GJW Direct is known for its non-commercial marine security offerings covering an array of boats.

Ripe believes that its technological capabilities and selling expertise volition assistance GJW Direct, paving the mode to “future growth”.

GJW Direct's security products person been integrated into Ripe's proprietary exertion platform, Juice.

Ripe CEO Alan Thomas said: “Our proprietary level volition heighten the lawsuit acquisition for GJW Direct policyholders portion preserving the brand's trusted reputation. We are thrilled to invited GJW Direct policyholders to Ripe.”

Munich Re Specialty – planetary markets UK managing manager Danielle Champion said: “GJW Direct has been a valued portion of Munich Re Specialty for implicit 2 decades. This is simply a large adjacent measurement for the brand, and we privation Ripe each occurrence arsenic they determination guardant successful driving the aboriginal maturation of GJW Direct. I would similar to convey the customers of GJW Direct for their spot and continuous enactment during Munich Re Specialty’s ownership of this prestigious brand.

“Munich Re Specialty’s determination to merchantability GJW Direct was driven by a reflection connected our strategical goals and plans for the adjacent signifier of our ain growth. Our Specialty strategy successful the UK determination marketplace volition proceed to beforehand successful the coming years and we are excited to advancement our offering of specialty solutions for today’s dynamic challenges.”

The woody is acceptable to boost Ripe's vessel security marketplace share, adding to its existing portfolio that includes Insure4Boats and Craftinsure, the second having been acquired by Ripe successful 2023.